Optimal Consumption, Investment, and Housing Choice: A Dynamic Programming Approach
We investigate a portfolio selection problem involving an agent’s realistic housing service choice, where the agent not only has to choose the size of house to live in, but also has to select between renting and purchasing a house. Adopting a dynamic programming approach, we derive a closed-form sol...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2022-03-01
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| Series: | Axioms |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2075-1680/11/3/127 |